Angola's Ministry of Finance has been granted authority under a presidential decree to define the key issuance parameters for Treasury bonds, using the Angola Debt and Securities Exchange (BODIVA), including the placement method, issuance currency, nominal value, coupon rate and repayment terms. The framework also allows the Minister of Finance to establish tax and financial incentives for holders, with issuances to be included in the “general obligation” referenced in Article 8 of Law No. 1/14 on the legal regime for issuing and managing direct and indirect public debt. The decree sets that periodic interest must be paid semi-annually in the issuance currency on the due date or the next business day if the due date is not a working day, while principal must be repaid at par in the issuance currency plus the last coupon interest on the maturity date or the next business day. It outlines multiple placement channels for Treasury bonds, including direct placement with financial institutions, quantity or price auctions, syndication, and limited subscription, and permits direct placement to the public subject to rules to be set by the Minister of Finance. Subscribing institutions may trade the bonds on a regulated market under the Securities Code, the decree defines criteria for fungibility across issuances, and it enables the Minister to authorise buybacks or early redemption under applicable legislation; issuance and subsequent transfers are to be book-entry between securities accounts, with registration and settlement in centralized securities clearing and settlement systems recognized by the Ministry. Further ministerial acts are expected to set the detailed issuance terms and the procedures for any direct-to-public placements.

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